VRCITY Token

The digital currency or token used in VR City is the VR City Token (ticker VRCITY), which runs on the Polygon Network.

The token is a proof of stake utility token with governance rights and staking features, used in the VR City platform to pay for goods and services.

The VRC Token has the following features inside the VR City Ecosystem:

  • Governance and voting rights

  • Pay for transaction fees

  • Pay for membership fees

  • Buy, sell or rent Land plots

  • Staking and earning interest

  • Buy and sell virtual goods, products or spaces on the platform

  • Buy and sell physical products

  • Get paid by users that want to access your space

VRCITY Token IBCO

The VRCITY Token, is deployed on the Polygon blockchain following the Initial Bonding Curve Offering model, because of its properties designed to protect token holders, investors in the project and the token price stability.

See this article on Hackernoon, for a quick overview on the IBCO model.

The Token IBCO is designed following the principles of the Bancor Protocol. This is being adopted to ensure stability and liquidity of the token and maintain its value in time, while guaranteeing investors that their money is not taken and the project not delivered. This is because in our IBCO model, the money invested is not spent, but it is locked in a collateral stable coin fund in USDC. The fund is subject to the DAO Governance protocol and cannot be liquidated.

Having a collateral fund also means that if anything goes wrong, the money invested is safe and in case the VR City DAO should cease to exist, the collateral funds can be paid back to the original investors.

VRCITY Token smart contract address on the Polygon blockchain: 0xCe2FCEBDFbDf9bD211936EB6b945d163702d28Ef

See the VRCITY Token on Polygonscan